Previously

Study Says Earthquakes Abroad Could Affect U.S. Injection Wells

Researchers at Columbia University said earthquakes that occur on the other side of the world could create smaller temblors near wastewater injection sites in the United States.

July 15, 2013

Summit Midstream Spends $460M on Bakken, Marcellus Gathering

Dallas-based Summit Midstream Partners LP (SMLP) is buying two shale gas gathering systems — one in the Bakken and the other in the Marcellus — in two deals worth a combined $460 million. The Marcellus transaction marks the company’s entry into the play.

June 6, 2013

Industry Brief

Mercedes-Benz is providing DHL Express Mexico with Sprinter compressed natural gas (CNG)-gasoline bifuel vehicles. DHL previously said it is satisfied with the performance of the 15 MB Sprinter model, which first was deployed in November in Mexico City. The vans are part of a 218-vehicle delivery from the auto manufacturer’s Mexico arm, including 181 Sprinters, 32 Vito vans and five Smart cars. DHL reported its overall investment was about US$10.5 million. The four-cylinder, 1.8-liter natural gas engines represent “the first natural gas-powered Sprinter fleet in the Americas,” according to DHL.

May 16, 2013

Industry Brief

Progress Energy Canada Ltd., Pacific NorthWest LNG Ltd. and Petroliam Nasional Berhad (Petronas) have closed the previously announced transaction that saw Japex Montney Ltd., the Canadian subsidiary of Japan Petroleum Exploration Co. Ltd., acquire a 10% interest in Progress Energy Canada’s natural gas assets in northeast British Columbia (BC), and in the proposed Pacific NorthWest LNG export facility on Canada’s West Coast near Prince Rupert, BC. Japex has agreed to buy a 10% share of the liquefied natural gas (LNG) facility’s production for a minimum of 20 years for domestic use in Japan (see Daily GPI, March 5). “This Japex investment in upstream natural gas resources in British Columbia and the downstream LNG facility further solidifies the North Montney as a world-class natural gas asset, and it clearly defines British Columbia and Canada as attractive and competitive destinations for global investment,” said Progress Energy Canada CEO Michael Culbert.

April 30, 2013

As Expected, Colorado Oil Production Zooms

Living up to preliminary estimates earlier in the year calling for a 50-year high (see Shale Daily, Jan. 25), Colorado oil/natural gas officials released statistics showing oil production was up 22% last year, soaring past the 40 million bbl mark for the first time in a half-century at 47.9 million bbl.

March 13, 2013

Eagle Ford Drove Double-Digit Growth at Rosetta

Rosetta Resources Inc. said it achieved double-digit growth in production and proved reserves while it “significantly reduced” well costs during 2012. The company said it replaced 472% of production from all sources at a reserve replacement cost of $10.03/boe.

January 31, 2013

Kansas Supreme Court Backs $33M Anadarko Settlement

The Kansas Supreme Court has upheld a $33 million settlement of a class action brought against Anadarko Petroleum Corp. and previously approved by a lower court, overturning an appeal by one plaintiff who said the agreement was not fair.

January 15, 2013

Industry Briefs

Westlake Chemical Corp.’s previously announced expansion of the Petro 2 ethylene unit at its complex in Lake Charles, LA, has begun. This expansion will be completed in conjunction with a planned maintenance turnaround and will increase ethane-based ethylene capacity by 230-240 million pounds annually in support of the company’s ethylene integration strategy. The unit is expected to be down approximately 60 days for the work to be completed.

January 14, 2013

Summit Buying North Dakota, Colorado Midstream Company

Summit Investments has agreed to acquire Bear Tracker Energy LLC for $513 million from affiliates of GSO Capital Partners LP and Bear Tracker Investments LLC. Midstream company Bear Tracker is focused on oil and natural gas in North Dakota and Colorado.

January 11, 2013

People

DCP Midstream LLC and DCP Midstream Partners LP made several management and board changes effective Jan. 1. Tom O’Connor will retire as CEO of DCP Midstream but will remain chairman of the board for both DCP Midstream and DCP Midstream GP LLC, the general partner of DCP Midstream Partners, “until an appointed time in 2013.” Wouter van Kempen, formerly COO and president of DCP Midstream, will become CEO and president of DCP Midstream and CEO of the general partner. William Waldheim, president of the general partner, will join the general partner’s board. And, as had previously been announced, Mark Borer retired as CEO of the general partner on Dec. 31.

January 4, 2013
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